General Business News

Islamabad: Prime Minister Syed Yusuf Raza Gilani chaired a meeting here at PM’s House to review the “Business Plan” of PIA management to make the national airline both efficient and profitable. The Prime Minister did not approve the Plan and directed the Secretary’s Committee, consisting of Cabinet Secretary, Finance Secretary, …

Karachi: JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the Insurer Financial Strength (IFS) rating of Reliance Insurance Company Limited (RICL) at ‘A-’ (Single A Minus). Outlook on the assigned rating is ‘Stable’. The rating denotes high capacity to meet policy holder and contract obligations. Risk factors may vary over …

Karachi: JCR-VIS Credit Rating Company Limited has reaffirmed the Insurer Financial Strength (IFS) Rating of Jubilee Life Insurance Company Ltd – (JLI) (formerly New Jubilee Life Insurance Company Limited) at ‘AA-’ (Double A Minus). Outlook on the assigned rating is Stable. The rating derives strength from JLI’s affiliation with the …

Karachi: Declaration of Interim Dividend Distribution for the Unit holders of Askari Sovereign Cash Fund (ASCF) and Askari Islamic Income Fund (AIIF) For the Year Ending June 30, 2012 The Unit Holders of Askari Sovereign Cash Fund (ASCF) and Askari Islamic Income Fund (AIIF) (hereinafter collectively referred to as “the …

Lahore: Etihad Airways, the national airline of the United Arab Emirates, is offering reduced fares to its destinations all around the globe valid from 22 January till 30 June, 2012. Destinations offered include; Dubai/Abu Dhabi (PKR 30,650), Manchester (PKR 66,290), London (PKR 65,100) and New York (PKR 92,750) for all …

Karachi: The Karachi Electric Supply Company has reached agreements with the defaulting consumers of Liaquatabad and Korangi through positive involvement of elected representatives. At both places, Members of Parliament and representatives of local associations convened meetings among all stakeholders and played their due role by motivating the defaulting consumers to …

Islamabad: As part of the Securities and Exchange Commission of Pakistan (SECP) efforts to promote the debt capital market in Pakistan, amendments have been approved to the regulations of National Clearing Company of Pakistan Limited (NCCPL), providing for electronic reporting of trades executed in unlisted term finance certificates (TFCs). The …